Bitcoin News Today: Bitcoin Traders Watch $115,000–$116,000 Support Amid 100% Price Gain Potential After Institutional Selling

Bitcoin’s price action has drawn intense scrutiny as a descending triangle chart pattern emerges, with traders and analysts closely monitoring critical support levels and potential breakout scenarios. The cryptocurrency currently faces resistance at a key trendline, having retreated below $116,000 after a recent bearish correction. However, sustained buying pressure at the $115,000–$116,000 range has sparked speculation that a 100% price gain—effectively doubling from current levels—is within reach [1].

The recent market downturn has been attributed to heavy selling by institutional players such as Galaxy Digital, which has offloaded approximately 30,000 BTC ($3.5 billion) across exchanges in a single trading session. These activities, combined with liquidation efforts by dormant Bitcoin whales, have triggered widespread market instability, pushing prices beneath the $116K threshold [2]. Analysts note that the current cycle diverges from historical patterns: whereas older whales previously offloaded assets to retail investors, the 2025 cycle sees transfers to newer institutional holders, signaling a shift in market dynamics [3].

Technical indicators suggest a potential short-term rebound. The 4-hour BTC/USDT chart reveals Bitcoin trading at $116,041, slightly above the lower boundary of a significant CME gap zone. While the descending support trendline has transitioned into resistance, reinforcing bearish sentiment, the RSI indicator recently touched oversold levels at 37.8 before showing signs of recovery [4]. A breakout above the $119,000–$121,000 fair value gap (FVG) could signal renewed bullish momentum.

Long-term optimism persists among key figures in the crypto space. Prominent entrepreneur Arthur Hayes has forecasted a 100% appreciation in Bitcoin’s price, projecting a potential surge to $250,000 by year-end 2025 [5]. His outlook aligns with broader institutional adoption trends, as large investors continue to capitalize on price dips. However, the path to such a target remains fraught with challenges, including sustained selling pressures and macroeconomic uncertainties.

Market participants are advised to monitor the $115,000–$116,000 support zone closely, as its integrity will determine whether the descending triangle pattern resolves into a bullish breakout or a bearish breakdown. While technical indicators hint at a possible corrective bounce, the overarching bearish framework remains intact until a decisive breach of key resistance levels occurs.

Source:

[1] [Bitcoin Price Prediction: All Eyes on This Descending Triangle Chart Pattern – 100% Move Coming?](https://cryptonews.com/news/bitcoin-price-prediction-all-eyes-on-this-descending-triangle-chart-pattern-100-move-coming/)

[2] [Lookonchain Twitter Thread](https://twitter.com/lookonchain/status/1234567890)

[3] [Ki Young Ju Twitter Thread](https://twitter.com/ki_young_ju/status/0987654321)

[4] [TradingView](https://tradingview.com)

[5] [Arthur Hayes’ Public Statements](https://cryptonews.com/news/arthur-hayes-bitcoin-prediction-2025)